Avery Dennison (NYSE:AVY) Hits New 52-Week Low – Should You Sell?

Shares of Avery Dennison Co. (NYSE:AVY) reached a new 52-week low on Thursday . The company traded as low as $178.72 and last traded at $181.13, with a volume of 815518 shares. The stock had previously closed at $179.99.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AVY. BMO Capital Markets reduced their price objective on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Barclays reduced their price target on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Bank of America dropped their price objective on Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Citigroup reduced their target price on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Finally, StockNews.com downgraded Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $227.15.

Avery Dennison Stock Up 0.6 %

The company has a market capitalization of $14.55 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 2.04 and a beta of 0.89. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. The business has a 50-day simple moving average of $189.87 and a two-hundred day simple moving average of $204.09.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 earnings per share for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. As a group, equities analysts predict that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.88 per share. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.94%. Avery Dennison’s dividend payout ratio (DPR) is 40.37%.

Insider Activity at Avery Dennison

In other news, SVP Nicholas Colisto sold 3,679 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $206.00, for a total transaction of $757,874.00. Following the completion of the transaction, the senior vice president now directly owns 7,126 shares of the company’s stock, valued at approximately $1,467,956. This represents a 34.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is owned by insiders.

Institutional Trading of Avery Dennison

A number of institutional investors have recently modified their holdings of AVY. Larson Financial Group LLC lifted its holdings in Avery Dennison by 100.0% in the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 71 shares during the period. Kennebec Savings Bank purchased a new position in shares of Avery Dennison in the 3rd quarter valued at about $36,000. Regents Gate Capital LLP purchased a new position in shares of Avery Dennison in the 4th quarter valued at about $37,000. Peterson Financial Group Inc. acquired a new stake in shares of Avery Dennison in the third quarter valued at about $39,000. Finally, Raleigh Capital Management Inc. boosted its holdings in Avery Dennison by 1,400.0% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock worth $56,000 after buying an additional 238 shares in the last quarter. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Avery Dennison Company Profile

Avery Dennison Corporation operates as a materials science and digital identification solutions company in the United States, Europe, the Middle East, North Africa, Asia, Latin, America, and internationally. It provides pressure-sensitive materials comprising papers, plastic films, metal foils, and fabrics; performance tapes products, including tapes for wire harnessing, as well as cable wrapping for automotive, electrical, and general industrial applications; mechanical fasteners, which are precision-extruded and injection-molded plastic devices used in various automotive, general industrial, and retail applications; and other pressure-sensitive adhesive-based materials and converted products under the Fasson, JAC, Yongle, and Avery Dennison brands.